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'm the newly-elected president of the united states who has a legacy to think about why wooir take that chance? certainly my friends on capitol hill on the republican side of the aisle have come to the reerlization that the president is prepared to take them over the fiscal cliff which is why you have the boehner move. i don't understand why you'd want to start the presidency with the potential of going over a fiscal cliff that could potentially put us into a recession. why not work a deal for the short term. why not look to do something more broad based next year? >> it would be been good to do it two months ago but the reality is, there's always risk. realistically if we take 5 to be 10, 20 days. the markets panic over everything. i assume these are rational actors. even if the market goes down 3 or 4%, markets fluctuate all the time. it goes down one day and back the next week and the impact on the economy is the same thing as my decision to go out to dinner next week. >> i disagree with that statement. it goes down 3 or 4% and then a lot of wealth has been destroyed. >> but it comes back.
to unite around a candidate in the event of a heavily contested election for the vacated seat by john kerry. who was nominated to be secretary of state by the president last friday. >>> updating on the storm that is moving into the new york and new england area. hundreds flights have been cancelled, thousands more have been delayed at laguardia airport now, -- we have julie martin with us. >> reporter: we are getting a break, we have seen snow and a bit of sleet, visibility is one of the big issues and we are down to about a mile or so. not the greatest situation, but one thing helping the flights and the pilots are the winds. the winds are not all that strong. so fortunately the flights have been able to come and go, but we are seeing the delays starting to mount a bit. overall here in new york and new jersey, we have seen 197 flights cancelled and hundreds of delays at the three airports but here at laguardia, not all that bad considering what we experienced a couple of days ago with the last system that came through cancelling thousands of flights and stranding hundreds of pass enerr js.
is one of 17 american presidents to be elected to a second term, and yet we really understand now in some respects the illusions of the power of the second term president. to have another nominee, perhaps the president's preferred candidate for the pentagon, secretary of defense, premptively challenged is remarkable and extraordinary. one other point that needs to be made regardless of who becomes secretary of defense, barack obama is most withholding president since richard nixon. there's no question about that. all power on the consequential issues of war and peace, afghanistan, iraq, the war on terror, big think strategy in iran, the israeli palestinian peace process, during his first term came in and out of the white house. secretary clinton, we'll never know whether she could be a consequential great secretary of state because the presidential essentially dominates. he does not delegate. and the reality is both at state and defense, the interesting question will be it seems to me on whether or not in the second term the president will allow his national security team to actually help
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